FX.co ★ US Stocks Start the Week in the Green

The S&P 500 experienced a 0.8% increase, the Nasdaq rose by 0.6%, and the Dow climbed by 300 points, driven largely by strong performance in the technology sector. This uptick followed news that Nvidia, which saw a 1.5% boost, is expected to commence shipments of its H200 AI chips to China by mid-February. In related technology advances, Oracle's shares rose by 3.2%, and Micron Technology's shares increased by 4%. In the energy sector, Exxon Mobil and Chevron recorded gains of 1.3% and 1.4%, respectively, prompted by heightened oil prices as supply concerns grew following U.S. actions related to Venezuela. Other sectors, including consumer discretionary and materials, also posted moderate gains. These developments occur as investors continue to interpret recent U.S. labor data, which indicated slower hiring rates and an increase in unemployment to 4.6%. This situation has bolstered expectations that the Federal Reserve might initiate interest rate cuts next year. Trading volumes were subdued in anticipation of the Christmas holidays, with focus shifting to delayed U.S. data set to be released later this week. Notably, the second GDP estimate is awaited to confirm whether there is an economic slowdown without a sharp downturn.